How TNO Ventures Creates Spin-Off Companies

In doing so, we stimulate the further development and scaling of innovative technologies—a crucial step in strengthening the Netherlands’ competitive edge and earning capacity. In the coming years, TNO aims to significantly contribute by launching 5 to 10 new companies annually that bring technology to market faster. But how do we do this? And what does it involve? We spoke with Eddy Zwier, Manager of Technology Transfer at TNO Ventures.

First of all, why the ambition to launch 5 to 10 new companies each year?

‘TNO doesn’t just want to develop knowledge - we want to apply it. That’s where the impact lies. We ensure that innovations don’t remain stuck in reports but actually find their way into society. Spin-offs contribute to economic growth and offer solutions to societal challenges. Think of cleaner air, better healthcare, or safer digital infrastructure. By advancing breakthrough technologies into scalable solutions, knowledge is transformed into value - for the Netherlands and beyond. And we want to increase that impact.’

‘With TNO Ventures’ Tech Transfer programme, we support teams through the final - and often most difficult - phase of innovation: the step to market. By encouraging entrepreneurship, we bridge the gap between research and application. Since 2017, we’ve launched 47 spin-offs and guided 135 teams in exploring the market potential of the innovations they were working on within TNO. Currently, 28 projects are underway in the programme that may become spin-off companies in the near future.’

How do you know if a technology has the potential to become a company?

‘When it truly has the potential to solve a major problem and stakeholders are ‘losing sleep’ over it. Whether inside or outside TNO, if you notice that speed is essential or the opportunity might slip away otherwise - then it’s time to talk to us.’

How do you select promising technologies?

‘We scout internally for breakthrough technologies with high potential impact. Colleagues can also approach us directly. We start with an intake meeting. If that goes well, we move on to market validation and begin working with the team. What problem are we solving? Are there customers? Is there a viable business case? How can we best bring the innovation to market?’

‘The programme to advance technologies towards spin-off status is carefully structured and revolves around collaboration with the research team. Through customer interviews, we assess whether the technology truly solves a problem. We work on a value proposition and build an initial business model. We examine legal and financial conditions, such as regulations and investor interest. Only when all these factors are clear do we determine the route to market - whether through a spin-off launch or licensing to an existing company. Sometimes there’s no viable business case or the timing isn’t right. These are valuable insights for further knowledge development within TNO.’

What is the biggest challenge in scaling to a spin-off?

‘Timing and team. Sometimes the technology is ahead of the market, or there’s a lack of regulation to support a viable business case. There isn’t always a team with entrepreneurial experience ready to take the spin-off forward. That’s why it’s important to think about team formation and leadership early in the process. We take various steps in this area, such as connecting external entrepreneurs to teams. We also promote entrepreneurship within TNO by organising workshops and involving former colleagues who have previously made the leap into entrepreneurship.’

Not every spin-off CEO comes from TNO. Where do you find the entrepreneurs for these spin-offs?

‘We collaborate with external venture builders like HighTechXL and engage entrepreneurs who have previously built successful companies. These are often serial entrepreneurs looking for a new challenge. They are carefully matched with technologies and teams within TNO. Sometimes they are temporarily employed to get a spin-off off the ground. People within TNO can also express interest in joining a founding team.’

Can you give an example of a groundbreaking spin-off?

A great example in the field of sustainability is ‘Relement.’ They produce bio-aromatics from agricultural waste streams - more sustainable and better performing than fossil-based alternatives. Their technology replaces fossil raw materials in coatings, delivering better performance with less environmental impact. It’s a textbook example of green chemistry with global potential. There are many more inspiring examples, which can be found in our TNO Ventures Portfolio.

What kind of expertise can start-ups access to accelerate their growth?

‘Deep tech is our playground. Quantum, photonics, AI, sustainable energy, medical technology - these are the areas of opportunity. But it’s not just about technology; timing, positioning, and access to the right resources are equally important. TNO Ventures looks for niches where TNO has a unique proposition, such as AI in defence or cybersecurity. Sectors like green tech and biotech also offer great potential. The key is to choose technologies that are not only innovative but also scalable and socially relevant.’

More information and contributing to new innovations

Are you interested in investing in innovative spin-off companies with societal impact and growth potential? Contact TNO Ventures via Investors and discover how you can contribute to the next generation of deep tech start-ups. Are you a researcher with the ambition to turn your research into impactful solutions? Sign up via TNO Researchers and take the first step towards entrepreneurship.

Looking to collaborate with our spin-off companies or with TNO? We welcome strategic partnerships that accelerate innovation and enhance societal impact. Get in touch and discover how your organisation can contribute to and benefit from cutting-edge research and entrepreneurship.